Any attempt to exclude Russia from the global gas market will have serious consequences, Vladimir Putin said at Tuesday’s summit of the Gas Exporting Countries Forum (GECF) in Moscow.
Putin recalled the proverb that whoever digs a pit for someone else may fall into it themselves. “In my view, this is precisely what is happening to the countries of the European Union today,” he said.
He also described the explosions that damaged the Nord Stream gas pipelines as an act of terrorism.
Russia seeks to strengthen its position in the gas market
Putin pointed out that Russia ranks first in the world in terms of natural gas reserves and second in production. He described his country as a responsible exporter and a reliable partner.
He identified supply disruptions and the disappearance of large volumes of gas from the market as the main challenges facing the sector. With demand increasing, he argued that gas transport routes around the world needed to be optimised and supply expanded.
The Russian president called on gas-exporting countries to establish closer technological partnerships based on their own technical expertise. He also announced that Russia was considering the possibility of co-operation with the United States on natural gas extraction in the Arctic.
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Putin calls for a non-political approach to energy
Putin acknowledged that every country decides for itself which forms of energy production it wishes to develop. However, he stressed that natural gas accounts for around a quarter of the world’s energy balance.
He also noted that liquefied natural gas (LNG) shipments now account for almost half of global gas trade.
According to Putin, gas-producing countries support the development of green energy, but he emphasised that environmental issues should not be used for political purposes.
The Gas Exporting Countries Forum includes Algeria, Bolivia, Equatorial Guinea, the United Arab Emirates, Egypt, Iran, Qatar, Libya, Nigeria, Russia, Trinidad and Tobago, and Venezuela. Together, these countries hold approximately 70% of the world’s natural gas reserves.
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Fourth Russian diesel tanker set to sail for the US
Meanwhile, Russian Deputy Prime Minister Aleksandr Novak announced at the same event that a fourth tanker carrying Russian diesel was due to depart for the United States on Wednesday. Novak announced the departure of the first three tankers on Friday.
